Sphinx and Sirios Announce the Generation of the Chechoo-Eleonore Trend Project, Eeyou Istchee James Bay Region
(firmenpresse) - MONTREAL, QUEBEC -- (Marketwired) -- 08/23/16 -- Sphinx Resources Ltd. ("Sphinx" or the "Corporation") (TSX VENTURE: SFX) is pleased to announce the execution of a binding letter of agreement to form a 50-50% joint venture with Sirios Resources Inc. ("Sirios") to explore 551 claims that are presently under request (the "Project") by this consortium along the northwest extension of the Cheechoo-Eleonore trend, located in the Eeyou Istchee James Bay region, Quebec. A map showing the perimeter of the Project may be consulted .
Under the terms of this joint venture agreement Sphinx and Sirios have agree to:
Sphinx and Sirios join their robust and complimentary technical expertise to carry out an exploration program which aims to identify gold deposits along this promising and underexplored corridor. This trend comprises Sirios' Cheechoo gold discovery (see Sirios' press releases of March 29, June 8 and August 10, 2016) and the Eleonore mine, a world-class gold operation owned by Goldcorp Inc. The Project's southeastern extremity is situated about 24 km northwest of the Eleonore mine and road access is available within 14 km of this location. On the basis of the same high degree of metamorphism and similar gold-arsenical paragenesis, Sphinx considers that the geological setting of the Project is of a similar character to the Cheechoo discovery and the Eleonore mine.
The technical information presented in this press release has been approved by Normand Champigny, President and Chief Executive Officer of Sphinx, and a Qualified Person as defined by NI 43-101. The transaction is an exempt transaction under Policy 5.3 of the TSX Venture Exchange.
About Sirios
Sirios' goal is to discover world-class gold deposits in the Eeyou Istchee James Bay region of Quebec in eastern Canada.
About Sphinx
Sphinx is engaged in the generation and acquisition of exploration projects in Quebec, Canada which is recognized as an attractive mining jurisdiction worldwide.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
This press release may contain forward-looking statements that are subject to known and unknown risks and uncertainties that could cause actual results and activities to vary materially from targeted results and planning. Such risks and uncertainties include those described in Sphinx's periodic reports including the annual report or in the filings made by Sphinx from time to time with securities regulatory authorities.
Contacts:
Normand Champigny
President and Chief Executive Officer
514.979.4746
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Datum: 23.08.2016 - 13:13 Uhr
Sprache: Deutsch
News-ID 490669
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MONTREAL, QUEBEC
Kategorie:
Mining & Metals
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